This logistics company to deploy 18,000 electric vehicles by end of this fiscal

Third-party logistics service provider Zyngo announced on Tuesday that it will deploy over 18,000 electric vehicles for last-mile delivery across the country. This move is the company's part of fleet augmentation plans. These electric vehicles will be sourced/leased from different domestic original equipment makers (OEMs), stated Zyngo EV Mobility.

The logistic company has been providing service to several established e-grocery and e-commerce platforms across various major cities such as Delhi-NCR, Bengaluru, Mumbai, Hyderabad, Jaipur and Chandigarh. Zyngo also expressed its interest to venture into other markets namely Pune, Ahmedabad, Indore, Lucknow, Chennai and Bhopal. The company is focusing on expanding its EV fleet in existing as well as new locations.

The company also shared that it has been partnering with various OEMs through Service Level Agreements (SLAs) where the maintenance and servicing of these electric vehicles are taken care of by the respective companies. Prateek Rao, Founder-CEO, Zyngo EV Mobility said, “We are currently on track to increase our fleet size by up to 18,000 EVs by FY 23-end. As a part of this, we are targeting deployment of 10,000 EVs across various locations by November 2022, and then the rest by March 2023, in order to fulfil the growing market requirements and to increase our business propositions by 10 times or more."

After this move, electric two-wheelers will constitute around 60 per cent while electric three-wheelers will account for 40 per cent of the company's fleet. Currently, Zyngo is carrying around 3-lakh deliveries per month through its all-electric fleet that has over 850 electric two- and three-wheelers. Zyngo said it is also aiming to capture at least 35 per cent of the entire hyperlocal e-commerce logistics market by 2024.

(With inputs from PTI)